International

Biden to cancel student loan debt up to $20,000 for millions of borrowers

Published

2 years ago

August 24, 2022

U.S. President Joe Biden

People who took out federal student loans to pay for their college education, and who make less than $125,000 a year, will be off the hook for up to $10,000 in debt under President Joe Biden’s latest order to curb the growing student debt crisis.

One week before the end of a moratorium on payments and interest, the Biden administration has announced that $10,000 in debts will be canceled for millions of borrowers, and the pandemic-era pause on payments — which has been extended seven times over the last two years – will continue through 31 December.

Recipients of Pell grants — a government programme initially meant to support lower-income students from having to pay for college, but has only made a dent in tuition at many schools as higher education costs have exploded — will be eligible to have up to $20,000 in debts canceled in what administration officials described as a targeted measure meant to ensure that borrowers from lower-wealth backgrounds receive the greatest amount of relief.

The president will announce the relief plan in remarks on Wednesday afternoon.

Roughly 43 million federal student loan borrowers will be eligible for relief, including 20 million who are eligible to have their debts canceled completely, according to a senior White House official who briefed reporters on Mr Biden’s plans.

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The White House estimates that the vast majority of relief through the administration’s latest maneuver will go to people with annual incomes of less than $75,000, and that 45 per cent of student loan borrowers will have their debts completely eliminated under Mr Biden’s proposal.

“It is really hard to overstate how significant this is for America’s middle class and for our economy,” said the official, who spoke on condition of anonymity. “This announcement will help people who by and large came from working families and are working class now.”

Mr Biden will also announce a proposal to cut the amount of discretionary income used to calculate payments made as part of income-driven repayment plans from 10 per cent of discretionary monthly income to 5 per cent.

“For example, a typical single construction worker making $38,000 a year with a construction management credential would pay only $31 a month, compared to the $147 they pay now under the most recent income driven repayment plan that would give them an annual savings of nearly $1,400,” according to the official, who added that borrowers will be allowed to permit the Department of Education to automatically access their income tax information so they will not have to rectify their income each year.

“Once a borrower is enrolled, it will be much easier to stay enrolled and receive credit that they’re due,” the official said.

Mr Biden’s announcement fulfills a campaign-trail promise he made more than two years ago when he pledged that he would cancel $10,000 in student loan debt per borrower if elected, though debt relief advocates and progressive lawmakers have urged him to cancel all debts and reject means-testing barriers in broad relief measures.

In November 2020, the president called on Congress to “immediately” provide some relief for millions of borrowers saddled by growing debt.

“[Student debt is] holding people up,” he said at the time. “They’re in real trouble. They’re having to make choices between paying their student loan and paying the rent.”

More than 40 million Americans hold roughly $1.9 trillion in student loan debt, most of which is wrapped up in federal loans. The average balance is $37,667, according to the Education Data Initiative.

Since March 2020, with congressional passage of the CARES Act, most borrowers have not had to make monthly payments on their student loan debt, with interest rates set at zero per cent. That pause has been extended seven times, including four times by President Biden, most recently in April.

The Independent

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International

Syria not threat to world, rebel leader al-Sharaa tells BBC

Published

3 days ago

December 19, 2024

Trends Admin

Ahmed al-Sharaa

Syria not threat to world, rebel leader al-Sharaa tells BBC

The de facto leader of Syria, Ahmed al-Sharaa, has said the country is exhausted by war and is not a threat to its neighbours or to the West.

In an interview with the BBC in Damascus, he called for sanctions on Syria to be lifted.

“Now, after all that has happened, sanctions must be lifted because they were targeted at the old regime. The victim and the oppressor should not be treated in the same way,” he said.

Sharaa led the lightning offensive that toppled Bashar al-Assad’s regime less than two weeks ago. He is the leader of the Hayat Tahrir al-Sham (HTS), the dominant group in the rebel alliance, and was previously known by his nom de guerre of Abu Mohammed al-Jolani.

He said HTS should be de-listed as a terrorist organisation. It is designated as one by the UN, US, EU and UK, among many others, as it started as a splinter group of al-Qaeda, which it broke away from in 2016.

Sharaa said HTS was not a terrorist group.

They did not target civilians or civilian areas, he said. In fact, they considered themselves to be victim of the crimes of the Assad regime.

He denied that he wanted to turn Syria into a version of Afghanistan.

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Sharaa said the countries were very different, with different traditions. Afghanistan was a tribal society. In Syria, he said, there was a different mindset.

He said he believed in education for women.

“We’ve had universities in Idlib for more than eight years,” Sharaa said, referring to Syria’s north-western province that has been held by rebels since 2011.

“I think the percentage of women in universities is more than 60%.”

And when asked whether the consumption of alcohol would be allowed, Sharaa said: “There are many things I just don’t have the right to talk about because they are legal issues.”

He added that there would be a “Syrian committee of legal experts to write a constitution. They will decide. And any ruler or president will have to follow the law”.

Sharaa was relaxed throughout the interview, wearing civilian clothes, and tried to offer reassurance to all those who believe his group has not broken with its extremist past.

Many Syrians do not believe him.

The actions of Syria’s new rulers in the next few months will indicate the kind of country they want Syria to be – and the way they want to rule it.

Syria not threat to world, rebel leader al-Sharaa tells BBC

BBC

International

Israel hits ports, energy sites in Yemen after missile intercepted

Published

3 days ago

December 19, 2024

Trends Admin

Israel hits ports, energy sites in Yemen after missile intercepted

JERUSALEM: Israel said Thursday it struck ports and energy infrastructure it alleges are used by Houthi militants, after intercepting a missile fired by the group.

Israel’s military said it “conducted precise strikes on Houthi military targets in Yemen — including ports and energy infrastructure in Sanaa, which the Houthis have been using in ways that effectively contributed to their military actions.”

The announcement came shortly after Israel said it had intercepted a missile fired from Yemen.

Al-Masira, a media channel belonging to the Houthis, said a series of “aggressive raids” were launched in the Yemeni capital of Sanaa and the port city of Hodeidah.

It reported raids that “targeted two central power plants” in Yemen’s capital Sanaa, while in Hodeidah it said “the enemy launched four aggressive raids targeting the port… and two raids targeting” an oil facility.

The strikes were the second time this week that Israel’s military has intercepted a missile from Yemen.

On Monday, the Houthis claimed a missile launch they said was aimed at “a military target of the Israeli enemy in the occupied area of Yaffa” — a reference to Israel’s Tel Aviv area.

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Also Monday, an Israeli navy missile boat intercepted a drone in the Mediterranean after it was launched from Yemen, the military said.

The Houthi militants have said they are acting in solidarity with Palestinians and pledged Monday to continue operations “until the aggression on Gaza stops and the siege is lifted.”

On December 9, a drone claimed by Houthis exploded on the top floor of a residential building in the central Israel city of Yavne, causing no casualties.

In July, a Houthi drone attack in Tel Aviv killed an Israeli civilian, prompting retaliatory strikes on the Yemeni port of Hodeidah.

The Houthis have also regularly targeted shipping in the Red Sea and the Gulf of Aden, leading to retaliatory strikes on Houthi targets by United States and sometimes British forces.

Israeli military spokesman Daniel Hagari said the group had become a “global threat,” pointing to Iran’s support for the militants.

“We will continue to act against anyone, anyone in the Middle East, that threatens the state of Israel,” he said.

Israel hits ports, energy sites in Yemen after missile intercepted

International

Gaza mediators intensify ceasefire efforts, Israeli strikes kill 20 people

Published

3 days ago

December 19, 2024

Trends Admin

A Palestinian boy looks as others inspect the damage at a tent camp sheltering displaced people, following an Israeli strike, amid the Israel-Hamas conflict, in Al-Mawasi area, in Khan Younis, southern Gaza Strip, December 18, 2024. (Reuters)

Gaza mediators intensify ceasefire efforts, Israeli strikes kill 20 people

CAIRO: The United States, joined by Arab mediators, sought on Wednesday to conclude an agreement between Israel and Hamas to halt the 14-month-old war in the Gaza Strip where medics said Israeli strikes killed at least 20 Palestinians overnight.

A Palestinian official close to the negotiations said on Wednesday that mediators had narrowed gaps on most of the agreement’s clauses. He said Israel had introduced conditions which Hamas rejected but would not elaborate.

On Tuesday, sources close to the talks in Cairo, the Egyptian capital, said an agreement could be signed in coming days on a ceasefire and a release of hostages held in Gaza in return for Palestinian prisoners held by Israel.

Medics said an Israeli airstrike killed at least 10 people in a house in the northern town of Beit Lahiya while six were killed in separate airstrikes in Gaza City, Nuseirat camp in central areas, and Rafah near the border with Egypt.

In Beit Hanoun in the northern Gaza Strip, medics said four people were killed in an airstrike on a house. There was no immediate comment from the Israeli military spokesman.

Israeli forces have operated in the towns of Beit Hanoun and Beit Lahiya as well as the nearby Jabalia camp since October, in a campaign the military said aimed to prevent Hamas militants from regrouping.

Palestinians accuse Israel of carrying out acts of “ethnic cleansing” to depopulate the northern edge of the enclave to create a buffer zone. Israel denies it.

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Hamas does not disclose its casualties, and the Palestinian health ministry does not distinguish in its daily death toll between combatants and non-combatants.

On Wednesday, the Israeli military said it struck a number of Hamas militants planning an imminent attack against Israeli forces operating in Jabalia.

Later on Wednesday, Muhammad Saleh, director of Al-Awda Hospital in Jabalia, said Israeli shelling in the vicinity damaged the facility, wounding seven medics and one patient inside the hospital.

The Israeli military had no immediate comment.

In the Central Gaza camp of Bureij, Palestinian families began leaving some districts after the army posted new evacuation orders on X and in written and audio messages to mobile phones of some of the population there, citing new firing of rockets by Palestinian militants from the area.

CEASEFIRE GAINS MOMENTUM

The US administration, joined by mediators from Egypt and Qatar, has made intensive efforts in recent days to advance the talks before President Joe Biden leaves office next month.

In Jerusalem, Israeli President Isaac Herzog met Adam Boehler, US President-elect Donald Trump’s designated envoy for hostage affairs. Trump has threatened that “all hell is going to break out” if Hamas does not release its hostages by Jan. 20, the day Trump returns to the White House.

CIA Director William Burns was due in Doha on Wednesday for talks with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani on bridging remaining gaps between Israel and Hamas, other knowledgeable sources said. The CIA declined to comment.

Israeli negotiators were in Doha on Monday looking to bridge gaps between Israel and Hamas on a deal Biden outlined in May.

There have been repeated rounds of talks over the past year, all of which have failed, with Israel insisting on retaining a military presence in Gaza and Hamas refusing to release hostages until the troops pulled out.

The war in Gaza, triggered by a Hamas-led attack on communities in southern Israel that killed some 1,200 people and saw more than 250 abducted as hostages, has sent shockwaves across the Middle East and left Israel isolated internationally.

Israel’s campaign has killed more than 45,000 Palestinians, displaced most of the 2.3 million population and reduced much of the coastal enclave to ruins.

Gaza mediators intensify ceasefire efforts, Israeli strikes kill 20 people

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